National News
Inflation, Insecurity, Fuel Scarcity, Others Bane Of Nigeria’s Economic Growth
Inflation, Insecurity, Fuel Scarcity, Others Bane Of Nigeria’s Economic Growth
By: Michael Mike
The President Association of Professional Bodies of Nigeria (APBN), Akin Oyegbola, has blamed the nation’s economic stunted growth on the nation’s high inflation, insecurity the incessant fuel scarcity.
He stated this during a press conference at the second APBN 2022, second board meeting held on Tuesday in Abuja
Oyegbola said, companies and factories have or are on the verge of shutting down as a result of the high cost of fuel.
He said: “In recent months, we have experienced Continiuos astronomical increase in the cost of diesel (AGO), as well as scarcity of Premium Motor Spirit (PMS), in some major cities. While we have no problem with the excuse offered by the government for cause of the scarcity and price hike, its effect on the economy can only be imagined. This re-emphasises the need for local production of petroleum products. We must revive our refineries. We believe this is the way out of the incessant cases of petrol scarcity.
“The economic loses due to high cost of diesel is massive. Inflation is very high, many companies, factories and airlines have or are at the verge of shutting down due to unsustainable cost of fuel.”
Oyegbola lamented the free fall of the Naira and the security situation and their impacts on the nation’s economy.
“The issue of insecurity has remained major concern to us. You would recall that one of the issues that came up at the board’s last meeting, and which formed a major thrust of board’s last deliberations; because of the seeming I tractability of this issue. The nation’s economy is being stunted, and may not attract the much needed investments as long as there are these palpable feelings of insecurity in the land. The board urges the board urges the federal government to sustain its onslaught against bandits, kidnappers and criminal elements across the country.
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“The free fall of the Naira against the dollar. While we are aware that the government through the Central Bank of Nigeria (CBN), is doing its best to get the Naira stable, we see the situation as a very worrisome one.”
He used the opportunity to call both the federal and state governments to engage APBN members in the development of the nation. “Any economy that that wants to develop must find a way to enlisting the services of its professionals. We believe the Nigerian governments (National and Sub-nationals), are not doing that enough. The board will, therefore, will like to use the to call on those in government to begin to look inwards for assistance. APBN boast of an array of qualified professionals that can rub shoulders with their peers anywhere in the world, and we are very ready for national assignments.”
On diversifying the nation’s economy he said Nigeria must move from mere slogans to practicalisation of slogans
In his explanations; APBN is an association of 30 Nigerian professional bodies. It is apolitical but a pressure of professionals, who expect their individual members to be political in order to make the changes that will bring integrity to the system.
He also said the challenges being faced by the nation today didn’t start with the current administration; they’re not expecting the current administration to sanitiser the system with less than a year left.
Inflation, Insecurity, Fuel Scarcity, Others Bane Of Nigeria’s Economic Growth
National News
NIDCOM Boss Congratulates Amanda Azubuike on Promotion to Brigadier General in US Army
NIDCOM Boss Congratulates Amanda Azubuike on Promotion to Brigadier General in US Army
By: Michael Mike
Chairman/CEO, Nigerians in Diaspora Commission (NiDCOM), Hon. Abike Dabiri-Erewa has congratulated Amanda Azubuike on her historic promotion to Brigadier General in the United States Army.
In a statement issued by the Commission’s Head, Media, Public Relations and Protocols, Abdur-Rahman Balogun on Sunday, Dabiri-Erewa lauded Azubuike’s remarkable achievement as a testament to her dedication, resilience, and exceptional service.
Born in London to a Nigerian father and a Zimbabwean mother, Azubuike’s journey is a source of pride for Nigerians worldwide.
She joined the U.S. Army in 1994, becoming an aviator after completing the Army Aviation Officer Basic Course.
Over her distinguished career, she has held pivotal roles, including serving as a platoon leader, flight operations officer, and public affairs officer. She currently serves as Deputy Commanding Officer at the U.S. Army Cadet Command.
Dabiri-Erewa emphasized the significance of Azubuike’s promotion, stating, “Amanda’s elevation to Brigadier General not only shatters glass ceilings but also highlights the invaluable contributions of Nigerians in the diaspora to global advancements.”
The NiDCOM Chairman urged Nigerians worldwide to draw inspiration from Azubuike’s accomplishment, reinforcing the importance of perseverance and excellence in their respective endeavours.
NIDCOM Boss Congratulates Amanda Azubuike on Promotion to Brigadier General in US Army
National News
VP Shettima launches 6th MSME Clinic, announces unconditional grant of N300,000 for each Borno Entrepreneurs
VP Shettima launches 6th MSME Clinic, announces unconditional grant of N300,000 for each Borno Entrepreneurs
…MSME the only way to strengthen the resilience of our people – Zulum
By: Our Reporter
Borno State entrepreneurs participating in the 6th Expanded National MSME Clinics and Fashion Hub will receive an unconditional grant of N300,000 each to support and enhance their businesses.
This was announced by Vice President, Kashim Shettima, during the official opening of the event on Tuesday at the Government House in Maiduguri, Borno State.
Senator Shettima revealed that each of the outstanding Micro, Small, and Medium Enterprises (MSMEs) that participated in the exhibition would be eligible for the N300,000 grant. “I am pleased to announce on behalf of His Excellency, President Bola Ahmed Tinubu, that an unconditional grant of N300,000 will be awarded to each outstanding MSME exhibiting at today’s clinic,” he stated.
The Vice President further explained that the Borno State centre is part of the ongoing national initiative to establish Expanded National MSME Clinics across the country. He assured that the grants are non-repayable, reflecting the Federal Government’s commitment to supporting the success and sustainability of small businesses in the region.
Senator Shettima also highlighted the newly inaugurated Borno State Fashion Hub, which he said has the capacity to create up to 48,000 jobs annually, describing it as a significant step towards enhancing the MSME ecosystem in the state, particularly in the fashion industry.
“This hub is among the largest ever established by the Federal Government, equipped with state-of-the-art facilities to support the fashion manufacturing cluster in Borno State,” he added.
In a remark, Governor of Borno State, Professor Babagana Umara Zulum, noted that his administration has adopted an inclusive approach to support small and medium scale businesses, recognising it as essential to strengthening resilience amid the challenges faced by MSMEs.
Governor Zulum acknowledged that MSMEs in Borno State have faced severe hardships due to the prolonged insurgency and the broader economic challenges in the country.
“The MSME Clinic will revitalise business activities in Borno State, create employment opportunities, and increase income sources for our people,” Governor Zulum said.
“Our government is committed to providing more opportunities for our people to expand their income sources.”
Governor Zulum also outlined several initiatives by his administration, including the disbursement of soft loans to empower entrepreneurs, the construction of modern markets, the establishment of vocational training institutions, and the renovation of skill acquisition centres damaged during the insurgency.
The Governor expressed optimism that the MSME Clinics would focus on five key areas: funding, skill development, infrastructure, access to markets, and technology. Additionally, the clinics will provide business registration, training, and mentorship services to help entrepreneurs grow their businesses.
“The expansion of this Clinic is not just a project; it is a demonstration of our belief in the creativity and resilience of the entrepreneurs in Borno State and Nigeria. When MSMEs thrive, they create jobs, reduce poverty, and drive innovation across sectors,” Governor Zulum said.
“These strategies are designed to address challenges and unlock the full potential of our entrepreneurial systems.”
Governor Zulum also urged entrepreneurs and business owners to fully utilise the resources provided by the MSME Clinic to grow their businesses, enhance their skills, and explore new opportunities.
Before the programme, Vice President Kashim Shettima commissioned the Borno State Fashion Hub at the defunct Kashim Ibrahim College of Education and WEMA Bank partnership branch.
Dignitaries that accompanied the VP include the minister of Agriculture and Food Security, Senator Abubakar Kyari, Minister of State Industry, Senator John Owan Enoh and Senior Special Assistant to the President on Job Creation and MSMES, Temitola Adekunle-Johnson.
VP Shettima launches 6th MSME Clinic, announces unconditional grant of N300,000 for each Borno Entrepreneurs
National News
2.5 million Daily Egg Production Farm Underway in Nigeria
2.5 million Daily Egg Production Farm Underway in Nigeria
By: Michael Mike
A 2.5 million eggs per-day production poultry farm is to be built in Nigeria by the China Communications Construction Company (CCCC).
This is one of the major highlights of the ongoing visit led by the Director-General of the NCSP, Joseph Tegbe to China.
According to a statement on Monday, the delegation at a meeting with Chilwee Group scored a significant mileage during a visit to the China Communications Construction Company (CCCC) Headquarters, where they explored opportunities for replicating a 2.5 million eggs-per-day production poultry farm in Nigeria using innovative funding models.
The statement read: “The Nigeria-China Strategic Partnership (NCSP) has made significant strides in strengthening bilateral relations and promoting economic cooperation between Nigeria and China. Recent agreements and investments in the energy, technology, and manufacturing sectors are poised to drive Nigeria’s socio-economic transformation.
“At the forefront of these developments is the agreement between the NCSP and Chilwee Group, a prominent Chinese manufacturer of cutting-edge batteries and power storage solutions. This agreement is expected to enhance Nigeria’s energy security, promote renewable energy, and reduce carbon emissions. Chilwee Group has committed to investing in Nigeria through a multifaceted approach, including sales, manufacturing, and potentially mining raw materials for the power storage value chain.
“In addition to the agreement with Chilwee Group, the NCSP has also made significant progress in other areas. During a recent visit to China, the Director-General of the NCSP, Joseph Tegbe, led a delegation to the China Communications Construction Company (CCCC) Headquarters, where they explored opportunities for replicating a 2.5 million eggs-per-day production poultry farm in Nigeria using innovative funding models.
“Also, the NCSP facilitated a tripartite agreement between CPL Medical group, CSSC Haishen Medical Technology Co Ltd and China Habour Engineering Company over the renovation and upgrading of equipment in selected teaching hospitals across the country. While speaking at the agreement signing ceremony, Tegbe noted that the agreement represented an example of private-sector collaboration which the partnership hopes to promote.
The statement also revealed that the NCSP delegation also visited China Electronic Corporation, where Tegbe expressed optimism about cooperation between Nigeria and China in areas such as electronics equipment, public security surveillance, and identity management. He emphasized the potential for collaboration, stating that he has President Bola Ahmed Tinubu’s mandate to identify top-priority projects that will drive Nigeria’s industrialization.
The NCSP delegation was also at Huawei, where they discussed opportunities for collaboration in the ICT sector, including training programmes and the deployment of smart city models. With the imminent deployment of the smart city model presented by Huawei to President Tinubu in Beijing, Nigeria is set to reap the benefits of the investments of Huawei in Nigeria and her partnership with the Tinubu-led administration.
These benefits include smart, qualitative education, better healthcare delivery, enhanced communications technology, improved security infrastructure, and digitalization of key government facilities. The NCSP also met with representatives from Loong UAV, a global leader in tactical drone solutions, to explore opportunities for cooperation in the field of drone technology.
The cooperation with Loong UAV is expected to bolster Nigeria’s domestic capabilities in drone technology, facilitating access to essential services and commodities in remote or hard-to-reach regions. This innovative use of drones could significantly enhance Nigeria’s logistical capabilities, creating new opportunities for economic growth and development.
According to the statement: “Overall, these agreements and investments demonstrate the NCSP’s commitment to driving Nigeria’s socio-economic transformation through targeted Chinese investments. By focusing on creating value-driven partnerships, strengthening Nigeria’s role in Africa’s industrialization, and coordinating initiatives that align with Nigeria’s Renewed Hope Agenda and China’s Belt and Road Initiative (BRI), the NCSP is poised to unlock new opportunities for economic growth and development in Nigeria.”
2.5 million Daily Egg Production Farm Underway in Nigeria
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